A new report from IMS Research entitled "The World Market for Electronic Perimeter Security Equipment," predicted strong growth over the next five years for perimeter security equipment. Although the global economic climate slowed growth for perimeter security in 2009, a quick recovery is expected thanks to an influx of new government funding and mandates. The global market was estimated to be worth US$371.2 million in 2009 and is forecast to grow at a CAGR of 9.0 percent to $570.4 million in 2014.
A new report from IMS Research entitled "The World Market for Electronic Perimeter Security Equipment," predicted strong growth over the next five years for perimeter security equipment. Although the global economic climate slowed growth for perimeter security in 2009, a quick recovery is expected thanks to an influx of new government funding and mandates. The global market was estimated to be worth US$371.2 million in 2009 and is forecast to grow at a CAGR of 9.0 percent to $570.4 million in 2014.
According to report author and Market Analyst Blake Kozak, "Government involvement in perimeter security is widespread; however, proper oversight is still lacking. Although the Chemical Facility Anti-Terrorism Standards (CFATS) is funded, more than 6,000 sites will need to be monitored. Similarly, the ‘virtual fence' project, which is a part of the Secure Border Initiative (SBInet), is set to receive less budget in 2011 compared to previous years, with the lack of proper oversight being noted as one of the reasons."
"While the lack of oversight is problematic, it is only a small hurdle that needs to be overcome. The perimeter industry is unique in that no individual site/ environment are the same. As a result, in most instances each application is using a mixture of perimeter technologies that best suit the environment within which they are placed. In airports for example, the 'apron' will likely be the target of individuals who gain unauthorized access through a perimeter fence; thus, this area requires additional protection from ground-based radar or from security cameras with video content analysis (VCA) software," Kozak added.
The perimeter security industry is predominately project based, which places enormous strain on national governments to create guidelines and mandates for all vertical sectors. As a result, the market has seen a raft of guidelines for risk-based assessments created for individual sectors at the local level. Perimeter security will continue to see strong growth due to the level of funding it receives; however, double-digit growth would likely occur if the guidelines were to become stricter and more enforceable.